SECOND EDITION. THE BANK CRISIS.

Evening Post, Volume L, Issue 56, 3 September 1895, Page 3

SECOND EDITION. THE BANK CRISIS.

» THE BILL AGAIN BEFORE THE HOUSE. The House of Representatives resumed at 10 a.m. to-day, to oonsider the Legislative Council's amendments in the Banking Bill. Dr. Newman questioned the right of the Counoil to amend this Bill, aB it -was a money Bill. The Premier said the only point on which the powers of the other Chamber could be questioned was as to clause 31, where the salary of the Realisation Board was altered from £1000 to £1500. The Speaker said that the alteration was a distinot attempt to interfere with the privileges of the Hooso. The appropriation of the £1000 was a distinot money appropriation, and, therefore, could not be altered by the Counoil. He regretted that attempts were bo frequently made in colonial Legislatures to interfere with a principle always reoognised in constitutional .history, and observed in the English Partiarnent It would be, however, for the Honse to decide whether on an important measure like the present one it would waive its right and treat the amendment as an ordinary one, or whether it would stand on its privileges and refuse to allow the olau&e to be amended by the Counoil. Mr. Earnshaw wished to know if members might now speak who had waived their right to speak on .the third reading in order to allow the Bill to be put through without loss of time. The Premier said he proposed to deal first with the verbal amendments. Mr. G. W. Russell— Let us deal with the amalgamation proposals first. The Premier — Will the member for Biocarton permit me to lead the House P Continuing, the Premier said 'he general debate wonld be taken later. The verbal amendments were agreed to, and those made in clauses 31, 37, 54, and 56 were disagreed to. The Colonial Treasurer then moved that Captain Bussell, Mr. T. Mackenzie, the Premier, and the Colonial Treasurer be appointed a oommittee to draw up reasons for the disagreement. On the mention of Captain Russell's name that gentleman interjected, " Not me, please ; Ido not agree to all the olauscs." Mr. G. W. Russell and Mr. R. Thompson protested against members in favour of the amendments made by the Council composing the Committee of the House. The Premier moved that Mr. Steward be added to the Committee. He himself approved some of the Council's amendments, but wonld subordinate bis own opinions to give effeot to the will of the House as a whole. Captain Bussell persisted- in withdrawing his name, as he strongly disagreed with one of the clauses insisted upon by the House. The Colonial Treasurer promised to intro. dnoe a Bill to give effect to Mr. G. J. Smith's ' amendment as to trading concerns, rejected by the Conn oil. Dr. Newman and Mr. R. Thompson said members were assured that the agreement as .to the Colonial Bank was settled ; and Mr. Thompson added that he was further assured that the consideration was settled, and was nearly equal t > double the market value of the sharer. The Premier said the President of the Bank of New Zealand assured him that the statement was entirely incorrect. After two hoars' disoaseioD, the Premier, Treasurer, Mr. T. Mackenzie, and the Hon. Mr. Steward were appoiotea Managers to meet those to be appointed by the Counoil. The House then adjonrned till 2.30 p.m. LEGISLATIVE COUNCIL. The Council met at 11 a.m. and adjourned till 2.30 p.m. On resuming, the Hon. Messrs. Ormond, Stevens, Bowen, and Dr. Graoe were appointed Managers for the Counoil at the Conference. Ffbibs association. I Mklboubni, 2nd September. The Age says the Bank proposals of the New Zealand Government may appear altogether wrong to those whose personal interests would be advanced by breaking down a great finanoial institution whose good businesa they might absorb, but Mr. Seddon's Ministry 'has already shown it has opt itself adrift from the old bank-parlour fetish, and has determined to shape its polioy to suit the demands of the new order of things. Any practical polioy which will prevent the re-eßtablishment of the old banking order should receive the oordial support of all who have the real interest and well being of the oolonies at heart.